Kelly of CBRE secures $68m first mortgage financing for the recapitalization of Hub 25

Boston, MA The CBRE Capital Markets team has secured $68 million in first mortgage financing for the recapitalization of Hub 25, a 278-unit apartment community located at 25 Morrissey Blvd. The owner, Qianlong Morrissey LLC, is a premier owner and developer within the New England market.

“It was a pleasure to work with our longstanding client, Qianlong Development, on this financing assignment,” said Kelly. “CBRE’s platform and access to a wide variety of multifamily capital allowed our client to secure the best available terms from the market. We were able to align the financing terms to match Qianlong’s short- and long-term business plan for this asset.”

“We saw great value in being able to recapitalize this asset after a successful construction process,” said Willie Guo of Qianlong Development. “We look forward to completing the stabilization process and positioning the community for long-term success.”